How to obtain value of major tools

[Dusty2004]

How do I get a value of the major tools that I have.  For example I have a Grizzly 3HP table saw originally $600 back in 2002.  How do you go about finding out current value for these type of tools.

Dusty

[Chuck Nickerson]

If you mean 'used replacement' value you just need to check craigslist in your area. This value is highly dependent on your locale.

If you mean 'new replacement' value you just need to do the online searches for similarly featured machines.

To the best of my knowledge there's no Kelly Blue Book for WW machinery.

IF THIS IS FOR INSURANCE PURPOSES ask the insurance company/agent how to establish value.

[cvillewood]

Need more information for what you’re intent is, as said above.

[Bob10]

How do I get a value of the major tools that I have.  For example I have a Grizzly 3HP table saw originally $600 back in 2002.  How do you go about finding out current value for these type of tools.

Dusty

List it for a bit more than you hope for.  You can always go down but it is really difficult to go up.

[EvilTwin]

General rule of thumb is 50% of new and work up or down depending on condition,  accessories, etc.  Now on the saw you paid 600 for in 2002, the new price would be what one is going for new in todays market.  So if that saw is going for say 1600 new, I would look at starting around 800 and going from there.

There is no hard and fast rule when it comes to establishing value/prices.  A thing is worth what somebody is willing to pay for it.   And if you are trying to sell it, price it out at about 10% higher than your minimum so you can make the buyer feel like he got a bargain.   Always works for me.

[BloomingtonMike]

Condition and availability of tool pays into pricing to. These guys waiting 8-9 months for an 8" jointer will pay more of one like new. No way I would I default to 1/2.

[macpianoman]

I just sold off most of my shop. My Sawstop cost me $2100 10 years ago. I got $1700 but included a Forrest blade and Incra Fence etc., the Ridgid jointer now $600 online and cost me $349 10 years ago I got $340. The HF lathe cost me $200 10 years ago and I got $150. Now the Jet Air Cleaner cost me $349 but only had one person interested and I got $150. Understand I wanted the shop gone but the more popular items you can get more out of so the 50% rule doesn’t always apply.

[cvillewood]

I just sold off most of my shop. My Sawstop cost me $2100 10 years ago. I got $1700 but included a Forrest blade and Incra Fence etc., the Ridgid jointer now $600 online and cost me $349 10 years ago I got $340. The HF lathe cost me $200 10 years ago and I got $150. Now the Jet Air Cleaner cost me $349 but only had one person interested and I got $150. Understand I wanted the shop gone but the more popular items you can get more out of so the 50% rule doesn’t always apply.

You're a good salesman!  SS's hold their value like Festool though.

[macpianoman]

I bought my Ridgid Drill Press and band saw as floor models for $150 each 10 years ago and sold for $135 on the Drill Press and $200 on the band saw. Understand I put a riser block and Timberwolf blade and poly tires on the band saw etc The absolute most interest was on the lathe. The guy buying the lathe wanted the band saw.

Understand this was a basement shop. I think the jointer was the worst. I took the motor off and the fence off. I’m 66 and 155 pounds. Lol. The guy buying the Sawstop brought a friend and they took it all the way down to the central unit. His was also going in his basement. It was a SS with the 52” fence and cast iron wings. Yeah that was tough to let go but we’re moving and no room for most of it.

I sold my shop off in a two week period. I used Marketplace on Facebook for all but my 3.5 HP Cyclone which I sold on Woodnet here. The Cyclone was a good deal for him because I included tons of 7 and 6 inch pipe, long radius 90’s and blast gates. It was the day before we were leaving for two months and now permanently so I didn’t mind including everything. It was out of there and I’ve used it for ten years. That cyclone unit was a beast to move. Lol

I hope this helps anyone that needs to depose a shop quickly.